Homegrown cab-hailing major Ola is in talks with South African e-commerce giant Naspers to raise fresh funds at a valuation of $7-8 billion (Rs 50,831-58,092 crore), Mint reported, citing three people aware of the development.

Singapore state investor Temasek Holdings Pte. Ltd and two other funds are also in discussions with Ola to participate in a $1 billion (Rs 7,262 crore) round, the report said.

Citing a person, Mint said Temasek first wants to do the secondary-share purchase and then finalise the contours of the primary investment.

Temasek is in the process of buying Ola’s shares worth over $200 million in a secondary transaction, according to the report. It would make primary investment at a higher valuation.